[Featured Stock] YC Benefits from Nvidia HBM Vendor Diversification... 'Korea's Advantest'

YC is showing strength. News that Nvidia holds a favorable stance toward Samsung Electronics appears to be influencing the stock price. Jensen Huang, CEO of Nvidia, spoke positively about Samsung Electronics' High Bandwidth Memory (HBM) at the 'COMPUTEX Conference.' Sangwook Park, a researcher at Shin Young Securities, analyzed that "an advantageous environment is being created for Samsung Electronics based on the expected HBM supply shortage in 2025, the demand for diversification of HBM vendors by fabless companies such as Nvidia and AMD, and the potential diversification of HBM testing companies."

As the importance of the HBM testing process, a core semiconductor for artificial intelligence (AI), grows, YC is expected to expand. Hyundai Motor Securities analyzed that YC, which possesses world-class tester technology, will become the 'Advantest of Korea.'

As of 9:14 AM on the 4th, YC was trading at 18,790 KRW, up 1,580 KRW (9.18%) compared to the previous trading day.

Hyundai Motor Securities explained that the most critical part of the HBM testing process is the two-step wafer test called 'KGSD (Known Good Stacked Die) test,' among which the 'High Speed Test' is the core.

The high-speed test is a process to verify whether HBM can achieve the high-bandwidth data transfer speed according to the design specifications. The only company that produces testing equipment capable of performing this is Japan's Advantest. Among domestic companies, Park Junyoung, a researcher at Hyundai Motor Securities, explained that YC is the company with the technological capability to manufacture wafer testers for HBM that include the high-speed test function.

Researcher Park emphasized, "The upside factors for YC in the future are the increase in the number of HBM equipment deliveries due to capacity expansion and gaining a dominant share in delivery volume competition with Japan's Advantest." He added, "The estimates were conservatively made considering YC's current capacity and the number of HBM testers that actual customers are expected to require," and noted, "Generally, capacity expansion for equipment companies can be completed within a few months." He concluded, "Considering the delivery share in the core business, YC, which has price competitiveness, is likely to have an advantage in the delivery share of HBM testers."

He analyzed, "Although doubts have recently arisen about the HBM competitiveness of YC's customers, from the equipment vendor's perspective, as long as production capacity continues to expand, it does not directly affect orders." He added, "There is no room to doubt the continuity of expansion," and predicted, "Based on HBM's sales within the memory industry, it will reach a level similar to or surpassing the sales proportions of DRAM and NAND within a few years."